An item that was selling for $72.00 was reduced to $60.00. Find the percent decrease in price. Show all your work.

The formula to figure out the percentage increase or decrease is:

(new - old) / old * 100%

new = 60

old = 72

(60 - 72) / 72 * 100%

-12 / 72 * 100%

= - 1/6 * 100%

= - 0.1666 ... * 100%

≈ - 16.667%

Because it is negative, that's a decrease.

Answer:

A decrease of about 16.7%